Mental Health's Ripple Effect: How It Shapes Businesses, Families, and Social Lives Today!
One can safely state that Nigeria's economy has experienced transformations recently, marked by overly ambitious reforms intended to stabilize the macroeconomic landscape. Nonetheless, these alterations have brought about challenges that significantly impact the everyday lives of Nigerian citizens.
By March 2025, Nigeria experienced another rise in its annual inflation rate, reaching 24.23%. This figure marks an uptick from February 2025 when the rate was recorded at 23.18%; however, it remains below the peak level of 34.8% observed in December 2024. The surge in food costs along with increased expenses for daily life are mainly responsible for driving these figures higher.
Moreover, the cost of petrol surged by 488%, rising from ₦175 in May 2023 when the present government took office, to ₡1,030 in October 2024; although recently it’s been trading about ₦950. The elimination of fuel subsidies along with the depreciation of the naira have intensified inflationary issues, driving up expenses for both imported products and services.
The elimination of fuel subsidies has substantially raised operational costs for companies, resulting in elevated prices for products and services. Consequently, this scenario has caused considerable distress, making it challenging for numerous Nigerians, particularly those with lower incomes, to maintain their livelihoods. Undoubtedly, these ongoing economic difficulties deeply impact mental health, sustenance, and overall quality of life.
In a nation where the prices of medications have surged dramatically, sometimes increasing over ten times their original cost, mental health stands as a significant concern that often goes overlooked. This aspect fundamentally shapes our day-to-day experiences and interactions. Be it at work, in marketplaces, within families, or amongst peers, these financial hardships invariably impact our emotional and psychological states. Such effects play a crucial role in determining the caliber of one’s general health, relationships, choices, sense of safety, and overall welfare.
The impact of mental well-being has grown unmistakably evident within the spheres of commerce, familial bonds, and social interactions in Nigeria. For example, in Lagos State, the atmosphere is highly charged with pressure; numerous individuals endure lengthy commutes just to reach their workplaces. Employers often set unattainable goals, leading to persistent anxiety over job stability which can manifest as chronic stress, psychological disorders, and bodily ailments.
Many people still recall a recent incident when several workers in Lagos State, commuting from the mainland to jobs on the island, faced extremely lengthy traffic delays. Some were stuck until as late as 2 AM because of road closings and repairs. This prolonged commutation could increase the likelihood of these individuals suffering from depression or job exhaustion, potentially leading to decreased performance. Over time, they might develop persistent mental health problems, although few readily acknowledge this issue.
Actually, the World Health Organization suggests that depression and anxiety result in significant economic losses globally. For workers, data indicates that signs of mental health issues can involve trouble focusing, frequent absences from work, emotional burnout, or an aversion to interacting with others.
For business owners and leaders, the risks may vary yet remain just as crucial. Feeling isolated at the pinnacle of their careers, along with bearing financial burdens and managing operations, can result in exhaustion from making constant decisions and fluctuations in emotions. Within family settings, mental well-being significantly influences how spouses and relatives interact; this frequently causes disruptions in communication and creates friction within households, potentially leading to emotional detachment or outbreaks of conflict.
High levels of unemployment and lack of jobs in our nation may lead to mental health problems within homes as well. Nevertheless, a parent's psychological state greatly influences the emotional atmosphere at home and affects how children develop. Since humans are inherently social creatures, suitable employment can aid in recuperation; however, similar to numerous regions across Africa, Nigeria often overlooks the considerable influence of mental health on enterprises, family dynamics, and everyday life.
Our strong desire for connection, acceptance, and a sense of belonging stems from the deep-seated understanding that mental well-being is genuine. This mental wellness dictates how we engage with those around us, and these interactions further affect our mental state. Consequently, if one’s mental health suffers, their capacity to establish and sustain healthy relationships diminishes as well.
Depression may cause someone to withdraw socially, anxiety might make them steer clear of events or feel excessively self-aware, and trauma could impair their ability to trust others. Consequently, individuals frequently end up feeling alone precisely when they're at their most fragile—the very time when support should ideally be available. Ultimately, having a nurturing family can serve as a strong shield against battles with mental well-being.
In my view, it’s essential to normalize conversations about mental health within workplaces, families, and friend circles to foster comprehension and advocate for self-care. In the professional sphere, success typically hinges on measurable achievements such as financial gains, career advancements, meeting deadlines, and reaching objectives. However, underlying these performance indicators is an important yet frequently overlooked element—the state of our mental well-being.
Because we are in a world that often prioritises and celebrates output over well-being, re-centering mental health is not just an act of care—it is more than important in the current dispensation for more work-life balance, longevity and a successful life. Good luck!
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• Dr. Timi Olubiyi, an authority in entrepreneurship and business management who holds a Ph.D. in Business Administration from Babcock University, Nigeria. As a dedicated investment mentor, published writer, accomplished academician, he is also a Chartered Member of the Chartered Institute for Securities & Investment (CISI) and a registered capital market operator with the Securities and Exchange Commission (SEC). For inquiries, reactions, and feedback, you may contact him at his Twitter profile @drtimiolubi yi or through email:. Please note that the views presented here solely represent those of the author, Dr. Timi Olubiyi, and might not align with the perspectives of others.
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